#降息预期 Once Oracle's earnings report was released, the market immediately responded—BTC dropped below 90,000, and Nasdaq futures also weakened. It seems the positive effect of the Fed's 25 basis point rate cut was immediately offset.

Careful analysis of this logical chain is the key: the frenzy around AI infrastructure supported a wave of valuations, but real cash flow couldn't keep up with the promises. Once this gap is exposed, it triggers a chain reaction. Declining revenues in traditional software, weak new license sales—essentially, the market is re-pricing expectations for AI monetization.

This has implications for copy trading strategies. When macro expectations shift from "rate cuts → risk assets rise" to "corporate fundamentals worry → selective decline," traders heavily invested in tech sectors or high-leverage AI concepts should be cautious. Recently, I’ve been adjusting my copy trading allocations—reducing the proportion of accounts chasing high AI themes and shifting to traders with more flexible risk sensitivity.

The rate cut expectations are still there, but now it’s more about who can survive longer during the fundamental validation process. This decline might just be the beginning—either more corporate earnings reports will confirm AI investment ROI, or the market will continue to oscillate. In the short term, I prefer to stay on the sidelines, waiting for a clearer direction before adding positions.